Question 1

Historical comparisons are most appropriate during periods of recession or economic boom.

Accepted Answer

A) True 
 B)False  False

Question 2

In considering the business from the internal business perspective using the balanced scorecard, periodic financial statements are used to indicate the consequences of improved quality, response time, productivity, and innovative products. These consequences include improved sales.

Accepted Answer

A) True 
 B)False  True

Question 3

The financial perspective of the balanced scorecard answers which of the following questions?

Accepted Answer

A) How do customers see us? 
B) What must we excel at? 
C) How do we look to shareholders? 
D) Can we continue to improve and create value? 
A) How do customers see us? 
B) What must we excel at? 
C) How do we look to shareholders? 
D) Can we continue to improve and create value? C

Question 4

A travel agent does not add value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates.

Accepted Answer

A) True 
 B)False

Question 5

Advertising is a __________ activity. Supply of replacement parts is a __________ activity.

Accepted Answer

A) support; primary 
B) primary; primary 
C) primary; support 
D) support; secondary 
A) support; primary 
B) primary; primary 
C) primary; support 
D) support; secondary

Question 6

According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

Accepted Answer

A) information systems 
B) technology development 
C) human resource management 
D) procurement 
A) information systems 
B) technology development 
C) human resource management 
D) procurement

Question 7

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

Accepted Answer

A) True 
 B)False

Question 8

__________ among organizations is played out over time.

Accepted Answer

A) Negotiation 
B) Sustainability 
C) Competition 
D) Learning 
A) Negotiation 
B) Sustainability 
C) Competition 
D) Learning

Question 9

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Accepted Answer

A) True 
 B)False

Question 10

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Accepted Answer

A) turnover ratios. 
B) leverage ratios. 
C) liquidity ratios. 
D) profitability ratios. 
A) turnover ratios. 
B) leverage ratios. 
C) liquidity ratios. 
D) profitability ratios.

Question 11

Trade secrets are intangible resources.

Accepted Answer

A) True 
 B)False

Question 12

If managers do not recognize from the beginning that the balanced scorecard is not a _________ and fail to commit to it long term, the organization will be disappointed.

Accepted Answer

A) panacea 
B) quick fix 
C) marketing ploy 
D) cheap solution 
A) panacea 
B) quick fix 
C) marketing ploy 
D) cheap solution

Question 13

In the resource-based view of the firm, examples of tangible resources include

Accepted Answer

A) financial resources, human resources, and firm competencies. 
B) financial resources, physical resources, and technological resources. 
C) financial resources, physical resources, and the capacity to combine intangible resources. 
D) outstanding customer service, innovativeness of products, and reputation. 
A) financial resources, human resources, and firm competencies. 
B) financial resources, physical resources, and technological resources. 
C) financial resources, physical resources, and the capacity to combine intangible resources. 
D) outstanding customer service, innovativeness of products, and reputation.

Question 14

Encyclopedia Britannica lost competitive positioning due to a misunderstanding of the change in competitors, when the CD-based encyclopedia became popular for home computers.

Accepted Answer

A) True 
 B)False

Question 15

Campbell Soup uses electronic networks in order to improve the efficiency of outbound logistics. This is an example of relationships among activities within the firm and with other stakeholders that are part of the company expanded value chain.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is a profitability ratio?

Accepted Answer

A) current ratio 
B) total debt ratio 
C) total asset turnover 
D) return on equity 
A) current ratio 
B) total debt ratio 
C) total asset turnover 
D) return on equity

Question 17

Inbound logistics include

Accepted Answer

A) machining and packaging. 
B) repair and parts supply. 
C) promotion and packaging. 
D) warehousing and inventory control. 
A) machining and packaging. 
B) repair and parts supply. 
C) promotion and packaging. 
D) warehousing and inventory control.

Question 18

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

Accepted Answer

A) multiple strengths 
B) multiple opportunities 
C) a single strength 
D) a single opportunity 
A) multiple strengths 
B) multiple opportunities 
C) a single strength 
D) a single opportunity

Question 19

A travel agent adds value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates. In terms of the value chain analysis, this is an example of a ____________ organization.

Accepted Answer

A) retail 
B) service 
C) manufacturing 
D) travel 
A) retail 
B) service 
C) manufacturing 
D) travel

Question 20

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?

Accepted Answer

A) rare 
B) valuable 
C) easy for competitors to substitute 
D) difficult for competitors to imitate 
A) rare 
B) valuable 
C) easy for competitors to substitute 
D) difficult for competitors to imitate

Historical comparisons are most appropriate during periods of recession or economic boom.

In considering the business from the internal business perspective using the balanced scorecard, periodic financial statements are used to indicate the consequences of improved quality, response time, productivity, and innovative products. These consequences include improved sales.

The financial perspective of the balanced scorecard answers which of the following questions?

A travel agent does not add value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates.

Advertising is a activity. Supply of replacement parts is a activity.

According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

__________ among organizations is played out over time.

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Trade secrets are intangible resources.

If managers do not recognize from the beginning that the balanced scorecard is not a _________ and fail to commit to it long term, the organization will be disappointed.

In the resource-based view of the firm, examples of tangible resources include

Encyclopedia Britannica lost competitive positioning due to a misunderstanding of the change in competitors, when the CD-based encyclopedia became popular for home computers.

Campbell Soup uses electronic networks in order to improve the efficiency of outbound logistics. This is an example of relationships among activities within the firm and with other stakeholders that are part of the company expanded value chain.

Which of the following is a profitability ratio?

Inbound logistics include

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

A travel agent adds value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates. In terms of the value chain analysis, this is an example of a ____________ organization.

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?

Strategic Management: Creating Competitive Advantages

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters

Exam 3: Assessing the Internal Environment of the Firm

Historical comparisons are most appropriate during periods of recession or economic boom.

In considering the business from the internal business perspective using the balanced scorecard, periodic financial statements are used to indicate the consequences of improved quality, response time, productivity, and innovative products. These consequences include improved sales.

The financial perspective of the balanced scorecard answers which of the following questions?

A travel agent does not add value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates.

Advertising is a __________ activity. Supply of replacement parts is a __________ activity.

According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

In conducting a SWOT analysis, a risk for strategists is that they rely on traditional definitions of their industry and competitive environment and therefore focus too narrowly on current competitors.

__________ among organizations is played out over time.

The activities that may provide support only to one company may be critical to the primary value-adding activity of another firm.

Ratios that reflect whether or not a firm is efficiently using its resources are known as

Trade secrets are intangible resources.

If managers do not recognize from the beginning that the balanced scorecard is not a _________ and fail to commit to it long term, the organization will be disappointed.

In the resource-based view of the firm, examples of tangible resources include

Encyclopedia Britannica lost competitive positioning due to a misunderstanding of the change in competitors, when the CD-based encyclopedia became popular for home computers.

Campbell Soup uses electronic networks in order to improve the efficiency of outbound logistics. This is an example of relationships among activities within the firm and with other stakeholders that are part of the company expanded value chain.

Which of the following is a profitability ratio?

Inbound logistics include

Sometimes firms become preoccupied with _________ or a key feature of the product or service they are offering and ignore other factors needed for competitive success.

A travel agent adds value by creating an itinerary that includes transportation, accommodations, and activities that are customized to your budget and travel dates. In terms of the value chain analysis, this is an example of a ____________ organization.

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?

Strategic Management: Creating Competitive Advantages

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters

Advertising is a activity. Supply of replacement parts is a activity.